Corporate Social Responsibility and Cash Holdings

Kaixing Wang; Qi’an Sun

doi:10.2991/assehr.k.211209.152

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Corporate Social Responsibility and Cash Holdings

Authors

Kaixing Wang¹^{, a}^{, †}, Qi’an Sun²^{, b}^{, †}

¹Kogod School of Business, American University, Washington, District of Columbia 20016, US

²Beijing Institute of Technology, Beijing, Beijing 100000, China

^a

kw8365a@student.american.edu

^b

1120182016@bit.edu.cn

^†

These authors contributed equally.

Corresponding Author

Kaixing Wang

Available Online 15 December 2021.

DOI: 10.2991/assehr.k.211209.152 How to use a DOI?
Keywords: China; corporate social responsibility; cash holdings; domestic enterprises; non-state-owned enterprise
Abstract: In this paper, we focus on discussing the relationship between corporate social responsibility and cash holdings in China stock market. We can draw conclusions based on corporate social responsibility in China’s domestic enterprises, the value of corporate cash holdings and corporate cash holdings for the influence of corporate social responsibility. That is, the improvement of social responsibility can significantly lower the value of enterprises and cash holdings. Non-state-owned corporate cash holdings in the value of social responsibility mechanism of performance are particularly prominent. The proposed method to solve the problem is to use hypothetical and empirical methods to prove the relationship between corporate social responsibility and cash holdings. The results obtained in this research include that research on the relationship between optimal cash holding and corporate social responsibility. It is found that the level of corporate cash holding will be reflected in the improvement of corporate social responsibility performance. It is believed that enterprises with high corporate social responsibility have a better reputation and public praise and can better obtain financing, so they tend to have low cash holdings, reducing the cost of cash holdings and financing. Corporate social responsibility and corporate cash holdings are substitutes for each other.
Open Access: This is an open access article under the CC BY-NC license.

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Volume Title: Proceedings of the 2021 3rd International Conference on Economic Management and Cultural Industry (ICEMCI 2021)
Series: Advances in Economics, Business and Management Research
Publication Date: 15 December 2021
ISBN: 978-94-6239-483-4
ISSN: 2352-5428
DOI: 10.2991/assehr.k.211209.152 How to use a DOI?
Open Access: This is an open access article under the CC BY-NC license.

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ris enw bib

TY  - CONF
AU  - Kaixing Wang
AU  - Qi’an Sun
PY  - 2021
DA  - 2021/12/15
TI  - Corporate Social Responsibility and Cash Holdings
BT  - Proceedings of the 2021 3rd International Conference on Economic Management and Cultural Industry (ICEMCI 2021)
PB  - Atlantis Press
SP  - 930
EP  - 936
SN  - 2352-5428
UR  - https://doi.org/10.2991/assehr.k.211209.152
DO  - 10.2991/assehr.k.211209.152
ID  - Wang2021
ER  -

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